Fed Holds Steady

The Federal Reserve this afternoon held interest rates and its bond-buying program steady, hinting that the U.S. economic recovery is picking up pace but showing no inclination to reduce its stimulus measures. 


"Amid progress on vaccinations and strong policy support, indicators of economic activity and employment have strengthened," the central bank said in a statement. "The path of the economy will depend significantly on the course of the virus, including progress on vaccinations... risks to the economic outlook remain."

The Fed did acknowledge that inflation has “risen” but cited “transitory factors” as driving the increase.